ProShares UltraPro QQQ (NASDAQ:TQQQ) Short Interest Down 37.9% in May

ProShares UltraPro QQQ (NASDAQ:TQQQ) was the target of a large drop in short interest in May. As of May 29th, there was short interest totaling 19,091,229 shares, a drop of 37.9% from the May 14th total of 30,764,966 shares. Currently, 3.9% of the company’s stock are short sold. Based on an average daily volume of 69,255,156 shares, the days-to-cover ratio is presently 0.3 days.

ProShares UltraPro QQQ Stock Performance

Shares of ProShares UltraPro QQQ stock opened at $77.52 on Monday. The stock has a market capitalization of $38.23 billion, a PE ratio of 38.25 and a beta of 3.71. ProShares UltraPro QQQ has a 52-week low of $35.71 and a 52-week high of $88.09. The company has a 50-day simple moving average of $67.83 and a two-hundred day simple moving average of $57.07.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of TQQQ. Integrated Wealth Concepts LLC raised its holdings in ProShares UltraPro QQQ by 19.2% in the first quarter. Integrated Wealth Concepts LLC now owns 4,971 shares of the exchange traded fund’s stock worth $285,000 after buying an additional 799 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in ProShares UltraPro QQQ by 4,237.0% in the first quarter. Goldman Sachs Group Inc. now owns 520,444 shares of the exchange traded fund’s stock worth $29,821,000 after buying an additional 508,444 shares during the last quarter. Focus Partners Wealth raised its holdings in ProShares UltraPro QQQ by 30.8% in the first quarter. Focus Partners Wealth now owns 10,954 shares of the exchange traded fund’s stock worth $628,000 after buying an additional 2,578 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in ProShares UltraPro QQQ by 11.4% in the second quarter. JPMorgan Chase & Co. now owns 19,570 shares of the exchange traded fund’s stock worth $1,624,000 after buying an additional 2,002 shares during the last quarter. Finally, Cerity Partners LLC raised its holdings in ProShares UltraPro QQQ by 11.4% in the second quarter. Cerity Partners LLC now owns 30,865 shares of the exchange traded fund’s stock worth $2,562,000 after buying an additional 3,158 shares during the last quarter.

ProShares UltraPro QQQ Company Profile

Proshares UltraPro QQQ ETF (the Fund) seeks daily investment results, before fees and expenses that correspond to triple (300%) the daily performance of the NASDAQ-100 Index (the Index). The Fund invests in equity securities, derivatives, such as futures contracts, swap agreements, and money market instruments. ProShare Advisors LLC (ProShare Advisors) provides the investment advisory and management services for the Fund.